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Ripple Moves Deeper Into Banking With Stablecoin Deals

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Ripple Moves Deeper Into Banking With Stablecoin Deals

Stablecoins continue to seek mainstream usage and acceptance, and this week, Ripple was at the forefront.

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The company spent the week securing more places for its dollar stablecoin to be held, traded and used. Agreements with Coinbase, Robinhood and BNY, alongside federal approval for a national trust bank, give the company a broader opening into financial services. Together, the developments suggest that stablecoin competition increasingly depends on distribution, regulatory oversight and connections to everyday financial operations.

For banks and payments providers, the implications extend beyond another digital dollar gaining exchange listings. Ripple is assembling services around RLUSD that could make it easier for institutions to use stablecoins without building every supporting capability themselves.

The regulatory foundation strengthened Monday (Oct. 26), when Ripple announced final approval from the Office of the Comptroller of the Currency to establish Ripple National Trust Bank. Its approved activities include managing RLUSD reserves, serving as trustee for those reserves on behalf of holders and providing digital asset custody services.

The distinction is important: RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated trust company. The national charter adds federal oversight to the supporting operations. It does not transfer issuance to the new bank.

“For years, we’ve said crypto and banks work better together,” Ripple CEO Brad Garlinghouse said in the announcement.

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